Charles Schwab Investment Management Inc. Acquires 4,629 Shares of IDEX Co. (NYSE:IEX)

Charles Schwab Investment Management Inc. increased its holdings in shares of IDEX Co. (NYSE:IEX) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 630,443 shares of the industrial products company’s stock after acquiring an additional 4,629 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.83% of IDEX worth $135,230,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of IEX. O Shaughnessy Asset Management LLC boosted its holdings in shares of IDEX by 33.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,752 shares of the industrial products company’s stock worth $672,000 after buying an additional 689 shares during the last quarter. Bessemer Group Inc. boosted its stake in IDEX by 7.5% in the first quarter. Bessemer Group Inc. now owns 1,179 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 82 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of IDEX during the 1st quarter worth approximately $272,000. Silvercrest Asset Management Group LLC raised its holdings in shares of IDEX by 14.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 12,983 shares of the industrial products company’s stock worth $3,168,000 after purchasing an additional 1,629 shares during the period. Finally, Tidal Investments LLC raised its holdings in shares of IDEX by 8.8% in the 1st quarter. Tidal Investments LLC now owns 4,383 shares of the industrial products company’s stock worth $1,070,000 after purchasing an additional 356 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

NYSE IEX opened at $232.50 on Monday. The company’s 50 day simple moving average is $215.08 and its two-hundred day simple moving average is $207.77. The stock has a market capitalization of $17.61 billion, a PE ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same quarter last year, the business posted $2.12 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Analysts predict that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen lowered their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Stifel Nicolaus lifted their target price on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada upped their price target on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, DA Davidson reduced their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, IDEX presently has an average rating of “Moderate Buy” and an average price target of $241.14.

About IDEX

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.